Chasnay Capital Investments has invested in UK-designed sleep therapy solution, SleepCogni. This funding follows SleepCogni’s recent successful clinical trial which showed they could significantly reduce clinical insomnia in just seven days. Chasnay’s investment has led to SleepCogni exceeding their investment target within the first week, which is currently live on Crowdcube.
Chasnay Capital Investments is a new private investment fund established in 2020 by three former General Electric (GE) senior executives: Reinaldo Garcia – Former CEO OF GE Grid Solutions and previously CEO of GE Healthcare International, Mark Hutchinson – former CEO for GE Europe and previously CEO GE China, and Roberto Mello – former CFO for GE Healthcare China and CFO of GE Latin America. Their first investments have been into early-stage healthcare, media/technology and energy storage.
SleepCogni provides insomnia sufferers with an intuitive handheld sleeping aid which breaks cognitive cycles that prevent sleep using patented technology. A unique feature of SleepCogni as a medical device is that it helps users self-manage their insomnia providing a true solution for this condition that severely impacts on wellbeing and overall health. Cornerstone investors, Chasnay, will bring in a wealth of knowledge with their understanding of the healthcare market, and is a great recognition for the potential of SleepCogni’s medical device.
SleepCogni recently registered with the Food and Drug Administration (FDA). There are an estimated 70m sleep sufferers living in the US, and FDA registration will allow SleepCogni to sell into this market directly. On a global level the sleep aid market is valued at $80bn. SleepCogni’s recent progress with key results from their first clinical trial and with sleep clinics lined up to roll out our product and participate in further trials, make it ideally positioned to become a key leader in this large and global market.
SleepCogni founder and CEO, Richard Mills, said: “This investment from Chasnay Capital Investments truly shows the size of the opportunity and our global ambition. The three former GE executives are proven titans in the healthcare industry and with their combined 80 years’ experience they will aid and advise on our international expansion and global rollout.”
Reinaldo Garcia from Chasnay Capital Investments said: “We invest in companies with ambition for global success where we can add value. As experienced global senior leaders with a proven track record we help companies improve strategy, team and build scale and help them transform into global businesses.
We are very excited by our investment into SleepCogni; the patented technology, the size of the unmet need in the global sleep space, and the opportunity to become a global leader with a clinically validated solution all positioned perfectly for where we can add value in this next exciting stage of the business. We also really liked the team, led by Chairman, Richard di Benedetto and CEO, Richard Mills backed with a solid scientific team led by CSO, Dr Maan van de Werken.”